175,000 Shares in Freeport-McMoRan Inc. $FCX Bought by Riposte Capital LLC

Riposte Capital LLC acquired a new position in shares of Freeport-McMoRan Inc. (NYSE:FCX) during the 1st quarter, HoldingsChannel.com reports. The institutional investor acquired 175,000 shares of the natural resource company’s stock, valued at approximately $10,286,000. Freeport-McMoRan accounts for about 2.6% of Riposte Capital LLC’s holdings, making the stock its 12th biggest position.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC boosted its holdings in shares of Freeport-McMoRan by 24.2% in the fourth quarter. Brighton Jones LLC now owns 14,807 shares of the natural resource company’s stock valued at $564,000 after acquiring an additional 2,882 shares during the period. Bison Wealth LLC raised its position in Freeport-McMoRan by 5.6% in the 4th quarter. Bison Wealth LLC now owns 9,616 shares of the natural resource company’s stock valued at $366,000 after purchasing an additional 507 shares during the last quarter. Sivia Capital Partners LLC acquired a new stake in Freeport-McMoRan during the 2nd quarter worth $560,000. Brown Advisory Inc. increased its stake in Freeport-McMoRan by 27.0% in the second quarter. Brown Advisory Inc. now owns 12,443 shares of the natural resource company’s stock valued at $539,000 after purchasing an additional 2,648 shares during the period. Finally, Jump Financial LLC raised its holdings in shares of Freeport-McMoRan by 42.7% in the second quarter. Jump Financial LLC now owns 50,114 shares of the natural resource company’s stock valued at $2,172,000 after buying an additional 14,992 shares during the last quarter. Hedge funds and other institutional investors own 80.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on FCX shares. Stifel Nicolaus boosted their target price on Freeport-McMoRan from $76.00 to $80.00 and gave the company a “buy” rating in a report on Tuesday, July 21st. Raymond James Financial reduced their price objective on shares of Freeport-McMoRan from $72.00 to $68.00 and set an “outperform” rating for the company in a research report on Friday, April 24th. HSBC upped their price objective on Freeport-McMoRan from $72.00 to $75.00 in a report on Friday, June 12th. BNP Paribas Exane upped their target price on shares of Freeport-McMoRan from $71.00 to $82.00 and gave the stock an “outperform” rating in a research report on Thursday, June 18th. Finally, Weiss Ratings cut Freeport-McMoRan from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, July 7th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, Freeport-McMoRan presently has an average rating of “Moderate Buy” and an average price target of $70.27.

Freeport-McMoRan Stock Down 1.8%

Shares of NYSE FCX opened at $61.58 on Wednesday. The firm has a market cap of $88.53 billion, a P/E ratio of 30.34, a price-to-earnings-growth ratio of 0.64 and a beta of 1.37. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.92 and a current ratio of 2.07. Freeport-McMoRan Inc. has a 1 year low of $35.15 and a 1 year high of $72.28. The firm’s 50 day moving average price is $63.68 and its 200 day moving average price is $62.47.

Freeport-McMoRan (NYSE:FCX) last issued its quarterly earnings results on Thursday, July 23rd. The natural resource company reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.12. Freeport-McMoRan had a return on equity of 10.63% and a net margin of 11.39%.The firm had revenue of $7.03 billion for the quarter, compared to analyst estimates of $6.62 billion. During the same period last year, the company earned $0.54 EPS. The firm’s quarterly revenue was down 7.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Freeport-McMoRan Inc. will post 2.74 earnings per share for the current year.

Freeport-McMoRan Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 3rd. Investors of record on Wednesday, July 15th will be given a dividend of $0.075 per share. The ex-dividend date of this dividend is Wednesday, July 15th. This represents a $0.30 annualized dividend and a yield of 0.5%. Freeport-McMoRan’s dividend payout ratio is 14.78%.

Freeport-McMoRan Profile

Freeport-McMoRan Inc is a U.S.-based natural resources company primarily engaged in the exploration, mining and processing of copper, gold and molybdenum. Its operations encompass large-scale open-pit and underground mining as well as associated concentrator and milling facilities. The company produces copper in the form of concentrates and cathodes, and also recovers gold and molybdenum as co-products; its business model includes exploration, development, mining, beneficiation and the sale of bulk commodities to smelters and industrial customers.

Freeport-McMoRan conducts operations and development activities across multiple geographies, with substantial assets in the Americas and Indonesia.